SOLUTION: Sally invests twice as much in Stock Ventures 1 at 8% interest as in Stock Ventures 2 at 6%. How much will she earn in one year if a total of %8000 is invested?
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Question 585636: Sally invests twice as much in Stock Ventures 1 at 8% interest as in Stock Ventures 2 at 6%. How much will she earn in one year if a total of %8000 is invested? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Ventures I 6.00% per annum ------------- x
Ventures II 8.00% per annum ------------ y
y=2x
total investment = 8000
3x=8000
x= 8000/3
x=2666 .66
5%*2666.66 + 8%*2*2666.66 = 560
Earnings = $ 560
